[1andrew1]

Whether or not you agree or disagree with Brexit from a sovereignty perspective, it's always useful to establish the cost.

‘Worse than feared’: Brexit to blame for £33bn loss to UK economy, study shows

Brexit has cost the UK a staggering £33bn in lost trade and investment, according to a new study which found that the economic damage is even worse than previously feared.

Research by the Centre for European Reform (CEF), shared with The Independent, shows that Britain’s economy is 5.5 per cent smaller than it would have been if the country had remained inside the EU.

The UK’s goods trade is 7 per cent lower and investment is 11 per cent lower than it would have been had the Remain campaign won the 2016 Brexit referendum, according to the think tank’s analysis.

“Brexit has clearly had a significant impact on the economy,” said John Springford, deputy director of the CEF. “There has been sizeable hit on trade and investment.”

The CER modelled the performance of a “doppelganger” UK – if the nation had remained inside the EU – using data from other advanced economies similar to Britain prior to Brexit, including US, Germany, Norway and Australia.

Mr Springford said the impact of Covid had slightly complicated the picture when the think tank’s previous assessment was carried out earlier this year.

But he said it was now clear that the difference between Britain’s sluggish performance compared to similar economies was down to Brexit rather than the pandemic. “I’m confident that Covid is not skewing the picture.”

https://www.msn.com/en-gb/news/uknew...22ea6a7919bf6a